Welcome to our dedicated page for CMS Energy Corporation news (Ticker: CMS), a resource for investors and traders seeking the latest updates and insights on CMS Energy Corporation stock.
CMS Energy Corporation (NYSE: CMS) is a diversified energy holding company with a primary focus on providing essential services in Michigan. The company's operations are segmented into three principal businesses: Consumers Energy, CMS Enterprises, and independent power generation.
Consumers Energy is the regulated utility arm of CMS Energy, supplying natural gas to approximately 1.8 million customers and electric service to around 1.9 million customers across Michigan. This subsidiary is pivotal in maintaining energy reliability and supporting the state's economic growth, especially through its robust infrastructure and customer service models.
CMS Enterprises manages the company's involvement in wholesale power generation, with an increasing emphasis on renewable energy projects. This division is essential for CMS Energy's strategic shift towards clean energy solutions. Recent initiatives include the development of solar power plants and the company's commitment to add 8,000 megawatts of solar energy by 2040.
CMS Energy's financial health reflects steady growth and strong investor confidence. In 2023, the company reported earnings per share (EPS) of $3.01, up from $2.85 in 2022, with adjusted EPS at $3.11. The annual dividend was increased by 11 cents per share to $2.06 for 2024. Moreover, CMS Energy has raised its 2024 adjusted earnings guidance to a range of $3.29 to $3.35 per share.
Significant recent developments include the sale of the Appliance Service Plan (ASP) business to Oncourse Home Solutions, a strategic move to streamline operations and focus on core energy services. This transaction is expected to close in the first half of 2024 and is poised to enhance the growth prospects of both companies involved.
Additionally, CMS Energy has been active in community engagement through initiatives like the Put Your Town on the Map Competition, which offers grants to support projects in small Michigan communities. Consumers Energy Foundation, the charitable arm of Consumers Energy, has been instrumental in these efforts, contributing over $11 million to Michigan nonprofits in 2023 alone.
CMS Energy's commitment to sustainability and clean energy is further demonstrated by its agreements with major corporations like Walmart to power their facilities with renewable energy. This partnership reflects the company's role in driving Michigan's clean energy future while adding significant new capacity to the grid.
Investors can stay informed about the company's performance and strategic outlook through regular webcasts and updates available on CMS Energy's website.
For more information on CMS Energy, visit www.cmsenergy.com.
The Michigan Energy Workforce Development Consortium (MEWDC), led by DTE Energy, Consumers Energy, and the Lansing Board of Water & Light, is launching an outreach initiative during Careers in Energy Week from October 18-22. This initiative aims to promote careers in the energy sector through events and contests for students. The energy sector employs over 110,000 Michigan residents and is projected to grow by 2% by 2028. MEWDC focuses on developing a skilled workforce, having secured a $1.1 million apprenticeship grant and garnered awards for innovative programming.
The Michigan Energy Workforce Development Consortium (MEWDC) will launch an outreach initiative to raise awareness of careers in the energy sector during Careers in Energy Week from October 18-22. This initiative includes career exploration events, panel discussions, and job fairs, targeting students and job-seekers. The energy sector currently employs over 110,000 people in Michigan, with expectations for a 2% growth from 2018 to 2028. Participating companies include Consumers Energy and DTE Energy, which are focused on promoting high-demand jobs in clean energy.
Consumers Energy has commenced construction on a cutting-edge natural gas training facility named Flint Gas City in Flint, Michigan. This $10.1 million initiative aims to enhance training for over 1,500 employees who manage natural gas infrastructure. The facility will feature specialized learning environments, including a mock neighborhood for practical training. Completion is projected for winter 2022. This development underscores the company's commitment to safety and effective service delivery in the natural gas sector.
CMS Energy will announce its third quarter results on October 28, 2021, at 9:30 a.m. EDT. A webcast of the presentation will be accessible on cmsenergy.com, with an audio replay available three hours later for a duration of 30 days. The company, based in Michigan, operates the Consumers Energy brand and manages independent power generation businesses.
CMS Energy (NYSE: CMS) has successfully completed the sale of EnerBank USA to Regions Bank (NYSE: RF) for approximately $1 billion. The proceeds will be allocated to enhance CMS's core utility operations. EnerBank has been part of CMS for nearly two decades, and CMS expresses confidence in its future under Regions Bank, which aims to leverage EnerBank's capabilities for customer financing solutions. The transaction marks a strategic move to focus on CMS's primary businesses and improve shareholder value.
CMS Energy has declared a quarterly dividend of $0.30625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock (NYSE: CMS.PRC). This dividend will be payable on October 15, 2021, to shareholders of record by the close of business on October 1, 2021. The company, based in Michigan, operates primarily through Consumers Energy and also engages in independent power generation.
The Board of Directors of Consumers Energy, a subsidiary of CMS Energy, has announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock, which will be payable on October 1, 2021. Shareholders of record as of September 7, 2021 will receive this dividend. CMS Energy, based in Michigan, is a leading energy provider, operating Consumers Energy and independent power generation businesses.
CMS Energy reported a robust earnings per share (EPS) of $0.61 for Q2 2021, up from $0.48 in Q2 2020. The EPS from continuing operations was $0.55, rising from $0.45 year-over-year. The adjusted earnings per share also saw an increase to $0.55 from $0.46. The company reaffirmed its 2021 adjusted EPS guidance of $2.61 - $2.65 and 2022 guidance of $2.85 - $2.87. CMS Energy emphasized its commitment to a clean energy transition and plans to provide a business outlook during a webcast on July 29, 2021.
CMS Energy's Board of Directors has announced a quarterly dividend of 43.50 cents per share on its common stock. This dividend will be payable on August 31, 2021, to shareholders who are on record as of August 6, 2021. Based in Michigan, CMS Energy operates primarily through Consumers Energy and has independent power generation businesses, emphasizing its commitment to providing reliable energy solutions.
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